Akamai Technologies (NASDAQ:AKAM) Now Covered by Analysts at Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating and a $100.00 price target on the technology infrastructure company’s stock. Oppenheimer’s price objective points to a potential upside of 22.12% from the stock’s current price.

AKAM has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. UBS Group began coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.55.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $0.52 during midday trading on Thursday, reaching $81.89. 48,511 shares of the company traded hands, compared to its average volume of 1,809,738. The stock has a 50-day moving average price of $90.98 and a 200 day moving average price of $95.52. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies has a 52 week low of $75.50 and a 52 week high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Sell-side analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. boosted its stake in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the 4th quarter worth $57,000. Finally, LRI Investments LLC boosted its holdings in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company’s stock valued at $60,000 after acquiring an additional 520 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.